IPO backlog reaches 117 companies as SEBON rolls out new vetting process
Summary
117 companies are waiting for SEBON approval to issue IPOs, with 77 still at the initial stage as the regulator introduces a six-stage vetting process to make approvals more transparent. SEBON has also approved IPOs for Kantipur Pharmaceuticals Lab Ltd and Ashutosh Energy Ltd after long delays.
Key Points
- SEBON says 117 companies are in the IPO pipeline, down from 119 after approving two applications this week.
- The regulator has introduced a six-stage vetting process and is publishing the status of pending applications for the first time.
- Most applicants are still at the first stage, while none have reached the final stage.
- SEBON officials say delays are caused by lengthy reviews, incomplete documents and slow responses from companies.
